6th, 7th and 8th grade students from Elkton-Pigeon-Bayport Lakers Middle School at their Reality Store. Teachers help students pick the career they would like after college (accountant, construction worker, technician, web designer, dancer, etc...) and when students walked into the Laker High School gym May 12th, the Banker showed them how much money they make with their career choice.
After the Banker took taxes out of their monthly paycheck, the students had to go to the Life Choices Station, where they discover if they have children, married or divorced, get Housing, Groceries, and Utilities. After spending a portion of their monthly pay on food and their kids, students have to buy a car to get to work. Alec McCormick and Jenna Dear were there to show students how to pick the right vehicle for their families, what fuel and maintenance costs would be and how to fit them into their budget.
After finding a vehicle, students were required to get insurance from the local insurance agent. "After getting a car, gas and paying for insurance, many students had to return to downsize their first choice of a truck or SUV." remembers Alec McCormick. "Many students wanted the most expensive vehicle we could sell them, the Truck/SUV. Nearly 75% of students who could afford the Truck/SUV payment were back because gas and insurance was more than they could afford. We heard dozens of kids from each class complain about how they had no money left, "I spent too much on this Truck and now I'm broke, this stuff is too expensive!" one student complained. "How do my parents afford me, I have 5 brothers and sisters at home and with two kids here I have nothing left." griped another.
After buying Insurance, students went to the Life Happens booth and spun a wheel to see if they won money in the lotto, had a tire blow out, got sick, their kids joined sports, ect... If need be students could get a $500 loan from the bank to balance their check book, but only after they trimmed in other areas.
"Overall this was a great leaning experience for the kids, and I think it made some of them think about a change in what they thought they wanted to do after school." said Alec "If we helped only one student better themselves for a lifetime, we did a good job and because there were many kids who said they picked the wrong career, I think we did just that."
Internet Sales Consultant
McCormick Motors, Inc.